Big fraud in Bhadohi, took a loan of 33 lakhs by keeping fake gold, cheated 3 banks

Big news has come from Bhadohi district of Uttar Pradesh. During the investigation of a case of fraud in a bank where fake jewellery was pledged to get a gold loan, two more cases of different banks have come to light. Police said that fake jewellery was pledged for gold loan from three banks and loans of more than Rs 33 lakh were given to customers as part of a conspiracy. A case has been registered against Raju Seth, owner of Bhavna Ornaments, a gold testing firm appointed by the banks, and 12 other customers for causing huge losses to the banks. 

Superintendent of Police Meenakshi Katyayan said on Thursday that on the complaint of Rajan Sandewar, manager of Union Bank of India’s Gopiganj branch, a case was registered against Raju Seth as well as Pradeep Kumar, Dinesh Chandra, Dheeraj Kumar, Akhilesh Kumar under sections 419, 420, 409 and 120B on Wednesday night. She said that with the approval of Raju Seth, these four people were given a gold loan of Rs 11,74,422 between April 1 and May 31. 

Gold loan of Rs 13,50,687 between April 5 and May 9

The Superintendent of Police said that earlier on Tuesday, on the complaint of Furkan Ali Khan, manager of Union Bank of India’s Gyanpur branch, a case was registered in Gyanpur police station against Raju Seth and loan takers Aarti Devi, Ajay Kumar, Rajneesh and Zubaid Alam under sections 419, 420, 406 and 120B of the Indian Penal Code. He said that during the tenure of the previously posted branch manager Gulab Singh, between April 5, 2024 and May 9, 2024, a total gold loan of Rs 13,50,687 was given to Aarti Devi, Ajay, Rajneesh and Zubaid on the approval of Raju Seth on behalf of the bank.

All the jewellery pledged in the bank was found to be fake. 

He said that on September 27, 2024, on re-examination of the gold ornaments pledged with AU Ornaments Private Limited located in Phulpur, Prayagraj, all the ornaments pledged in the bank were found to be fake. Katyayan said that a similar case of fraud has also come to light in the Gopiganj branch of another bank, Central Bank of India. This bank too had given a gold loan of Rs 8,05,256 to Ram Singh, Manoj Kumar, Vinod Kumar and Nirmala Devi with the approval of Raju Seth.

The three banks lost Rs 33,30,365 in the fraud. 

In this regard, Central Bank of India’s regional manager Durgesh N. Singh gave a written complaint and said that the jewellery pledged in the bank was examined at the bank’s central office and all the jewellery was found to be fake. In this regard, a case was filed against all the five accused on Wednesday. Meenakshi Katyayan said that the three banks had appointed M/s Bhavana Ornaments to examine the gold jewellery. The three banks have suffered a loss of Rs 33,30,365 in this fraud.